German automobile manufacturer Mercedes-Benz Monday said it will hike prices up to 2.5 percent on its models effective Sep 1, 2014.
According to the company, rising input costs coupled with continued high exchange rate have been impacting the bottom-line, making a price revision inevitable.
"We have decided to upwardly revise the prices of some of our models given the rising input costs and continued high exchange rate. Mercedes-Benz models are highly enriched in terms of features and they command high customer preference in the market," Eberhard Kern, managing director and chief executive, Mercedes-Benz India said.
"Our aim remains to grow sustainably in the market in the long-term and keep creating new benchmark in modern luxury for our customers," Kern added.